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Competencies include all the related knowledge, skills, abilities, and attributes that form a person's job. This set of context-specific qualities is correlated with superior job performance and can be used as a standard against which to measure job performance as well as to develop, recruit, and hire employees.
For example, a developed country purchasing imports from a developing country, which then replaces products made with domestic, low-skills labor. This, in turn, decreases the demand for low-skills workers in the developed country. Both of these factors may increase the wages of highly skilled workers in the developed country.
These human attributes have been commonly classified into four categories: knowledge, skills, abilities, and other characteristics (KSAO). Knowledge is the information people need in order to perform the job. Skills are the proficiencies needed to perform each task. Abilities are the attributes that are relatively stable over time.
A skilled worker may have learned their skills through work experience, on-the-job training, an apprenticeship program or formal education. These skills often lead to better outcomes economically. The definition of a skilled worker has seen change throughout the 20th century, largely due to the industrial impact of the Great Depression and ...
Human capital in a broad sense is a collection of activities: all the knowledge, skills, abilities, experience, intelligence, training and competences possessed individually and collectively by individuals in a population. These resources are the total capacity of the people that represents a form of wealth that can be directed to accomplish ...
The findings from the analysed empirical data offer a complex picture of this type of work in the knowledge economy where workers use a combination of creativity, abilities, talents, skills, and knowledge towards the eventual production of products and services.
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